Budget & Taxes (State Budget)

in committee · New York · Senate Jan 7, 2026

S 4166: Relates to taxpayers affected by a federal government shutdown

Relates to taxpayers affected by a federal government shutdown by granting an extension for those who are furloughed and expediting their tax refunds.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax relief via refund expediting for furloughed workers, aligning with tax relief indicators for middle-income taxpayers affected by federal shutdown.85% confidence

Sub-Topics Revenue State Budget

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in committee · New York · Senate Apr 30, 2025

S 7526: Enacts the private activity bond allocation act of 2025

Bill S 7526, known as the "private activity bond allocation act of 2025," establishes a new formula for distributing the state's annual volume ceiling for certain tax-exempt private activity bonds. This bill directly affects state and local government agencies, as well as other entities that issue these bonds for projects such as housing, economic development, and job creation. The bill divides the statewide bond volume ceiling into three equal portions. One-third is set aside for local agencies based on population, another third for state agencies, and the final third forms a statewide bond reserve for additional allocations to either state or local entities. This system aims to create an orderly and efficient process for allocating these bonds, which require an allocation to qualify for federal tax exemption.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill establishes new bond allocation formula for tax-exempt private activity bonds, directly managing fiscal resources for housing/economic development projects.90% confidence ✓ HousingSupports HousingBill allocates tax-exempt bonds for housing projects, directly funding housing development as an eligible use under the bond program.95% confidence

Sub-Topics Debt & Bonds State Budget Tax Incentives Housing Finance Property Development

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in committee · New York · Senate Jan 7, 2026

S 7035: Requires the budget submitted by the governor to include an itemization, by each individual school district, of appropriations for the support of school districts

Requires the budget submitted by the governor to include an itemization, by each individual school district, of appropriations for the support of school districts.

Topics ✓ Budget & TaxesSupports Budget & TaxesMandates detailed budget itemization per school district, enhancing fiscal transparency and accountability in state spending.85% confidence

Sub-Topics Appropriations State Budget

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in committee · New York · Senate Jan 7, 2026

S 1681: Relates to imposing a specific tax on all corporate stock buybacks of issued shares

S 1681 imposes a 0.5% tax on corporations buying back their own issued shares (stock buybacks). It directly affects corporations that repurchase shares, requiring them to pay tax equal to half a percent of the total value paid for those shares. The tax applies regardless of whether the shares are later canceled, and it replaces the existing per-share tax rates for such transactions. This is a direct tax on corporate buyback activity, not on general stock sales.

Topics ✓ Budget & TaxesSupports Budget & TaxesImposes 0.5% tax on corporate stock buybacks, generating state revenue and closing tax loopholes per fiscal responsibility indicators.95% confidence

Sub-Topics Business Taxes State Budget

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in committee · New York · Assembly Jan 7, 2026

A 7530: Establishes a spending cap and increases the maximum capacity of the rainy day fund

This bill establishes a new annual spending growth cap for state operating funds, directly affecting the governor and legislature when creating budgets. The cap limits yearly increases in state spending to the average inflation rate from the prior three years (calculated using the Consumer Price Index). It requires the governor to certify budget compliance and gives the comptroller authority to verify limits, with exceptions only for emergencies declared by the governor and approved by a two-thirds legislative vote. The bill does not change the rainy day fund's capacity, as the title's mention of that detail isn't elaborated in the actual provisions.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill imposes spending cap tied to inflation, promoting fiscal responsibility by limiting annual budget growth to average inflation rate.92% confidence

Sub-Topics Audits & Accountability Government Spending State Budget

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in committee · New York · Assembly Jan 7, 2026

A 2085: Prohibits the legislature from recessing after the start of the state fiscal year until it has passed a budget

Prohibits the legislature from recessing after the start of the state fiscal year until it has passed a budget; allows recess during such period for public holidays.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill mandates timely budget passage, promoting fiscal responsibility by preventing legislative delays in budget approval.95% confidence

Sub-Topics State Budget

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in committee · New York · Senate Jan 7, 2026

S 4993: Requires certain agreements be included in the synopsis of requests for appropriations for the state budget

Requires written agreements between the governor and the legislature that relate to any budget appropriations be included in the synopsis of requests for appropriations for the state budget and published on the public website of the division of the budget.

Topics ✓ Budget & TaxesSupports Budget & TaxesRequires transparency in budget agreements, promoting fiscal accountability without altering funding levels or tax policies.95% confidence

Sub-Topics Appropriations Audits & Accountability State Budget

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in committee · New York · Senate Jan 8, 2025

S 953: Raises the tax rate on corporate income; increases the state conformity to federal taxation of corporate profit shifting; and imposes an additional tax on individual business income

Raises the tax rate on corporate income; increases the state conformity to federal taxation of corporate profit shifting; imposes an additional tax on individual business income in response to federal tax benefits for pass-through business income.

Topics ✓ Budget & TaxesSupports Budget & TaxesIncreases corporate income tax rates and imposes additional business income tax to close federal tax loopholes for pass-through entities, strengthening state tax revenue.95% confidence

Sub-Topics Business Taxes State Budget

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